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Objectives
Medium-long term goals or targets that must be achieved in order to realize the stated aims of an organisation or department.
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Corporate Objectives
The goals or targets of the whole organisation, usually based on its mission or aims
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Functional Objectives
The goals or targets of each of the functional areas of a business, usually based on its corporate objectives
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Strategy
The medium to long term plans through which an organisation aims to attain its objectives
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Financial Aims
The broad, general goals of the finance and accounting department
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Financial Objectives
The specific, focused targets of the finance and accounting department
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Financial Strategies
Long term or medium term plans, devised at senior management level, and are designed to achieve the firm's financial objectives
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Financial Tactics
Short term financial measures adopted to meet the needs of a short term threat or opportunity
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Balance Sheet
A document describing the financial position of a company at a particular point in time
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Income Statement
An account showing the income and expenditure of a firm over a period of time
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Assets
Items that are owned by an organisation
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Non-Current Assets
Resources that can be used repeatedly in the production process, although they do wear out or lose value
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Tangible Assets
Non-current (fixed)assets that exist physically
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Liabilities
Debts owned by an organisation to suppliers, shareholders, investors or customers who have paid in advance
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Total Equity
Funds provided by shareholders to set up the business, fund expansion and purchase fixed assets
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Revenue Expenditure
Spending on day to day items such as raw materials, stock (inventories), wages and power
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Depreciation
The fall in value of an asset over time
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Gross Profit
Revenue minus cost of sales. Shows how efficiently a business is converting its raw materials or stock into finished products
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Operating Profit
The revenue earned from everyday trading activities minus the costs involved in carrying out those activities
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Profit Utilisation
The way in which a business uses its profit or surplus
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Other cards in this set

Card 2

Front

Corporate Objectives

Back

The goals or targets of the whole organisation, usually based on its mission or aims

Card 3

Front

Functional Objectives

Back

Preview of the front of card 3

Card 4

Front

Strategy

Back

Preview of the front of card 4

Card 5

Front

Financial Aims

Back

Preview of the front of card 5
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